Russian cryptocurrency exchange Garantex has suspended cryptocurrency withdrawals

Russian cryptocurrency exchange Garantex reported that the American company Tether has blocked the platform's wallets containing over 2.5 billion rubles.

In this regard, the exchange has suspended trading operations and other services, citing "technical work." Representatives of the exchange called Tether's decision a "war against the Russian crypto market."

"We are temporarily suspending all services, including cryptocurrency withdrawals, while our entire team works on resolving this issue. We are fighting and won't give up! Please note that all USDT held in Russian wallets is currently at risk," stated Garantex.

Previously, we reported that in the 16th package of sanctions, the European Union imposed restrictions on the operation and cooperation with the Russian cryptocurrency exchange Garantex.